China Plans World’s Largest Solar Plant (Bloomberg)
Added: September 09, 2009
In this Sept. 7, 2009 photo released by First Solar, First Solar CEO Mike Ahearn, left, greets Chairman Wu Bangguo of the Standing Committee of the National People’s Congress, in Phoenix.
NEW YORK (Reuters) – First Solar Inc said on Tuesday it plans to build the world’s largest solar plant in China in the first major foray by a U.S. company into the Asian nation’s fast growing alternative energy sector.
Under a memorandum of understanding with the Chinese government, First Solar will build a 2-gigawatt power plant, enough to power about 3 million Chinese households, at Ordos City, in Inner Mongolia, and consider building a new manufacturing plant in China.
The announcement comes as the solar industry struggles to emerge from a year-long slump that saw financing for new projects dry up and reduced subsidies in Spain create a glut of unsold cells and panels.
The project is part of China’s program to generate 10 percent of its energy from renewable resources by 2010 and 15 percent by 2020 to help meet its growing energy appetite that has made the country the world’s top emitter of carbon dioxide.